Smiths News (LON:SNWS) Trading Down 9.5% – Here’s Why

Smiths News plc (LON:SNWS)’s share price dropped 9.5% during mid-day trading on Friday . The stock traded as low as GBX 59.40 ($0.73) and last traded at GBX 61.20 ($0.75). Approximately 1,615,870 shares changed hands during trading, an increase of 37% from the average daily volume of 1,183,762 shares. The stock had previously closed at GBX 67.60 ($0.83).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 95 ($1.17) price target on shares of Smiths News in a report on Tuesday, November 5th.

Smiths News Stock Performance

The company has a market capitalization of £143.20 million, a P/E ratio of 671.11, a PEG ratio of 0.29 and a beta of 0.83. The stock has a 50 day moving average price of GBX 63.04 and a 200 day moving average price of GBX 59.84.

Smiths News Increases Dividend

The business also recently announced a dividend, which will be paid on Thursday, February 6th. Shareholders of record on Thursday, January 9th will be paid a GBX 5.40 ($0.07) dividend. This represents a yield of 9.47%. This is a boost from Smiths News’s previous dividend of $1.75. The ex-dividend date of this dividend is Thursday, January 9th. Smiths News’s payout ratio is presently 5,555.56%.

Insider Transactions at Smiths News

In related news, insider Deborah Rabey purchased 20,663 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were purchased at an average cost of GBX 63 ($0.78) per share, for a total transaction of £13,017.69 ($16,017.83). Also, insider Jonathan Bunting sold 490,569 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of GBX 61 ($0.75), for a total transaction of £299,247.09 ($368,213.47). Insiders sold a total of 1,993,578 shares of company stock worth $121,608,258 in the last quarter. Insiders own 13.12% of the company’s stock.

About Smiths News

In 1792 we started delivering the nation’s newspapers. Today, we’re proud to be the UK’s largest wholesaler of newspapers and magazines, serving 24,000 retailers from superstores to corner shops.

Service and efficiency put us at the forefront of our industry and with 55% market share we are the leading player in one of the world’s fastest-moving supply chains.